Crédit Agricole S.A.'s Board of Directors, chaired by René Carron, met on 6 September 2005 to approve the results for the first half of 2005.

Crédit Agricole S.A. achieved strong growth in the first half of 2005. Net income - Group share amounted to €1,865 million, an increase of 31.3% compared with the same period last year, demonstrating the continuation of the group's durable and profitable growth. The cost/income ratio improved significantly and annualised ROE stood at 15.9%. [...]

This performance reflects solid growth in gross operating income (+11.5%), a further decrease in risk-related costs to an all-time low and a significant increase (+27.2%) in the contribution from equity affiliates.[...]

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